Business
Interim Management Statement & Accounts
Interim Management Statement & Accounts.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n Nostra Terra Oil and Gas Company plc\n (the 'Company' or 'NTOG')\n Interim accounts for the five months to 30 June 2007\n\nCHAIRMAN'S STATEMENT\n\n24 September 2007\n\nNostra Terra Oil & Gas Company Plc (formerly LHP Investments Plc) acquired Nostra Terra (Overseas) Limited (NTOL),\nraised £350,000 (excluding expenses) and was admitted to trading on AIM on 20 July 2007 which is after the end of the\ninterim period being reported. NTOL intends to re-open certain wells which were previously producing oil in the area\ncovered by its Oktyabrskoe licence in the Tarkhankurt Peninsula located in the northwest region of greater Crimean\nPeninsula in Ukraine, which were capped as being uneconomic in a period when oil prices were at much lower levels.\n\nFinancial Overview\n\nExpenses incurred during the period relate to basic administration costs and as at the date of the balance sheet the\ncompany had net current assets of £117,000, all effectively held in cash. For the period a loss of £3,000 has been\nincurred, which on a weighted average equates to a basic and fully diluted loss of 0.004p pence per share; no dividend\nis being declared.\n\n\nReview and Outlook\n\nThe Board has been joined by myself as Chairman, Brian Courtney as Chief Executive Officer , Glenn MacNeil as Chief\nFinancial Officer and Des Smith as Chief Operating Officer. We have begun fieldwork on the Oktyabrskoe licence to\nre-open wells numbers 24 and 10. We are optimistic and expect the success of these re-openings to be known in October in\nrespect of well 24 and in December in respect of well 10. Further fieldwork on the Oktyabrskoe licence to re-open other\nwells is also being planned.\n\nSir Adrian Blennerhassett\nChairman September 21.2007\n\n\nFor further information contact:\n\nNostra Terra Oil and Gas Company plc\nBrain Courtney, Chief Executive Officer [email protected]\nStephen Oakes, Non-executive Director Tel: +44 (0)207 877 8788\n\n\nARM Corporate Finance Limited Tel: +44 (0)20 7512 0191\nAlan MacKenzie\nBen Jeynes\n\n\n\n Income Statement\n for the five months ended 30 June 2007\n\n Five months to Six months to Year ended\n 30 June 2007 31 July 2006 31 January 2007\n Unaudited Unaudited audited\n\nContinuing operations\n\nRevenue - - 1\n\nCost of Sales - - -\n __________ __________ __________\n\nGross Profit - - -\n\nAdministrative expenses ...